The Federal Reserve has left U.S. rates unchaged.<br />No more rate hikes are expected for the rest of the year either,... but one might happen in 2020.<br />Lee Seung-jae reports. <br />Following its two-day meeting,... the Federal Open Market Committee announced Wednesday that it has left its benchmark interest rate unchanged at the target range of 2-and-a-quarter percent to 2-and-a-half percent. <br />After raising rates for five consecutive quarters,... the decision comes amid increasing concern about slowing economic growth.<br />Analyzing data released at the end of the two-day meeting,... the FOMC expects not to raise rates again at all this year,... projects a single rate increase in 2020 and none in 2021.<br />Fed officials had initially expected two rate increases this year and one more in 2020.<br />At a news conference shortly after the meeting, Fed Chairman Jerome Powell said the Fed expects the U.S. economy to "grow at a solid pace" in 2019,... but will be slower than last year's quick acceleration.<br /><br />"The U.S. economy is in a good place, and we will continue to use our monetary policy tools to help keep it there.(cut) We continue to expect that the American economy will grow at a solid pace in 2019, although likely slower than the very strong pace of 2018. We believe that our current policy stance is appropriate." <br /><br />Powell, also did not rule out the possibility that, based on the current condition of the U.S. economy,... the Fed's next move could be a rate cut.<br />Looking to the future,... eleven committee members said they do not expect any more rate increases in 2019,... while four said they expect one. <br />None of the members expect a rate cut.<br />In 2020, seven members expect no additional rate hikes,... while four expect one.<br />Three expect two increases,... and the other three members predict three to four.<br />Analysts believe the Fed will hold rates steady as Fed officials now expect economic growth of 2-point-1-percent for 2019, down from the 2-point-3 it forecast in December,... but warn a downward revision on growth could spook investors.<br />Lee Seung-jae, Arirang News. <br />
